Crypto analyst Tmilnebml has highlighted a bullish sample that’s forming on the Dogecoin worth chart. Based on this, the analyst predicted that the DOGE worth might rally to as high as $4.2 because the meme coin enters the subsequent section of this bullish sample.
Dogecoin Fibonacci Spiral Could Send Price To $4.2
In a TradingView post, Tmilnebml highlighted the DOGE Fibonacci spiral, which might ship DOGE to $4.2. The crypto analyst famous that the Fib spiral is on its third iteration of following the golden ratio and has damaged current resistance traces heading to satisfy his prediction. His accompanying chart confirmed that the Dogecoin worth might attain $4.2.
The chart additionally confirmed that the Dogecoin worth rally to $4.2 might occur as early as February 2025, though it’s unclear if that may mark the highest for the foremost meme coin. Crypto analyst Ali Martinez had additionally just lately predicted that DOGE could reach $4 and additional rally to as excessive as $23 on this cycle based mostly on the Fibonacci ranges.
The analyst defined that the Dogecoin worth rallied to the 1.618 and even 2.272 Fibonacci ranges in previous bull cycles each time it broke the $0.50 Fibonacci retracement degree. Based on this, DOGE might attain $4 if it reaches the Fib 1.618 degree and $23 if it reaches the two.272 Fib degree.
Crypto analyst Trader Tardigrade additionally just lately predicted that the Dogecoin worth might rally to as excessive as $8.7 by August 2025 if it mirrors the 2016 bull run. Meanwhile, he acknowledged that DOGE might attain as excessive as $30 if it replicates the 2021 bull run.
DOGE Has Entered Its Parabolic Phase
In a current X publish, Ali Martinez acknowledged that DOGE has entered a parabolic bull run and defined why he believes so. First, he talked about that Dogecoin whales have been shopping for thousands and thousands of DOGE cash. These whales just lately purchased 140 million DOGE ($56 million) in beneath 24 hours.
Secondly, he famous that retail buyers have simply began to note DOGE’s potential, indicating that DOGE nonetheless has extra room to maneuver to the upside as these buyers accumulate the meme coin. He added that crypto fans appear to want DOGE over Bitcoin, which presents a bullish outlook for the meme coin.
Martinez then talked about that based mostly on a parallel channel and historic information, the Dogecoin worth might attain wherever between $2.40 and $23.26. However, he warned buyers that they should be prepared for steep worth corrections. Martinez famous that the Dogecoin worth witnessed a number of corrections starting from 40% to 84% through the 2017 and 2021 bull runs.
At the time of writing, the Dogecoin worth is buying and selling at round $0.39, up over 3% within the final 24 hours, in keeping with data from CoinMarketCap.
Featured picture created with Dall.E, chart from Tradingview.com
